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SAO PAULO (Reuters) – Brazilian planemaker Embraer SA (NYSE:ERJ) said on Tuesday it has signed two memorandums of understanding with BAE Systems (OTC:BAESF) PLC to expand their footprint in the global defense market, according to a statement.
The first memorandum established a partnership between BAE Systems and Embraer to collaborate in Middle Eastern markets for the C-390 series, with an initial focus on Saudi Arabia, while the second one confirms an intent to create a joint venture to develop a defense variant of Eve’s electric aircraft.
